by Fast fashion in India has seen increased penetration in recent years driven by changing consumer preferences and growing adoption of western styles. Fast fashion refers to lower priced clothing collections that mimic current fashion trends seen in popular high-end designers’ wear. It allows customers to be on-trend at affordable prices on a more frequent basis. The fast fashion products market offers apparel, footwear, and accessories for women, men, and kids that are affordable, trendy, and of acceptable quality.
India Fast Fashion Market Size is estimated to be valued at US$ 9.90 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the India fast fashion market are H&M, Zara, Forever 21, Mango, Topshop, Uniqlo, Marks & Spencer, GAP, Next, Vero Moda, Only, Max Fashion, Pantaloons, Westside, Fabindia, Global Desi, AND, Biba, W, Aurelia. Key players focus on faster inventory turnaround, opening smaller stores in non-metropolitan cities, investing in supply chain and logistics to keep prices low.
The growing youth population, increasing disposable incomes, and rising adoption of western trends have been driving the demand for fast fashion products in India. Rapid urbanization is also enabling increased penetration of fast fashion retailers into tier 2 and 3 cities.
Fast fashion retailers are expanding globally into the Indian market to tap into the large consumer base. Several established international brands are opening large format stores, investing in e-commerce platforms as well as partnering with domestic retailers.
Market Key Trends
Eco-friendly raw materials and sustainable manufacturing are gaining increased importance in the industry. Fast fashion brands are procuring more materials such as organic cotton, recycled polyester and using cleaner dyeing/finishing techniques to reduce environmental impact. This emerging trend allows customers to stay on-trend while being more conscious about sustainability.
Porter’s Analysis
Threat Of New Entrants: Fast Fashion in India has high growth prospects attracting new players but existing brands have strong supply chains, dedicated manufacturing bases making entry difficult.
Bargaining Power Of Buyers: Buyers have high bargaining power due to availability of similar products but brands engage customers through frequent fashion changes and competitive pricing.
Bargaining Power Of Suppliers: Fabric suppliers have moderate bargaining power due to availability of substitutes however dedicated suppliers ensure uninterrupted supply.
Threat Of New Substitutes: Threat from new substitutes is moderate as alternatives offer niche fashion however fast rotation of designs by existing players attract large customer base.
Competitive Rivalry: Rivalry is high among existing players to maintain market share through frequent new collections, competitive pricing and expansion to tier 2/3 cities.
The geographical region where the India Fast Fashion market is concentrated in terms of value is metro cities like Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, and Pune due to high consumer awareness and purchasing power in these regions. Tier 2 and emerging tier 3 cities are also witnessing strong growth led by rising disposable incomes and expansion of national and international brands in these areas.
The geographical region witnessing the fastest growth in the India Fast Fashion market is tier 2 and tier 3 cities. With rising incomes and fashion consciousness,markets in emerging townsare undergoing rapid growth at around 20% annually driven by introduction of trendy apparel, accessories at competitive prices and omni-channel reach of brands in these regions through EBOs and online platforms. Exposure to fashion on social media and access top brands through malls and e-retail is propelling fast fashion adoption in urbanizing towns.
What Are The Key Data Covered In This India Fast Fashion Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the India Fast Fashion’s growth between 2024 and 2031.
:- Accurate calculation of the size of the India Fast Fashion and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- India Fast Fashion Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of India Fast Fashion vendors
FAQ’s
Q.1 What are the main factors influencing the India Fast Fashion?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top India Fast Fashion companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the India Fast Fashion’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
